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Consumers Rely on Chicken Even as Inflation Affects Prices
While consumers average rating for their current financial situation is in the middle between “poor” and “excellent,” 87 percent are buying more or the same amount of fresh chicken now compared to six months ago, according to research presented today at the 2022 Chicken Marketing Summit.
The National Chicken Council (NCC) and WATT Global Media presented the results of a study that focused on current and anticipated U.S. consumer behavior, specifically, consumption of fresh chicken. The results suggest opportunities for chicken to maintain market share. IRI provided supporting data from its...
Retailers Say New Biofuel Levels Will Drive Up Food Prices
The National Retail Federation today said biodiesel levels set by the Environmental Protection Agency for this year are too high and will drive up inflation for already high food prices, especially processed foods that rely on food oils from crops like soybeans.
“For more than a year, we’ve alerted the EPA and the administration about the shortage of food oils, which is causing significant disruptions throughout the supply chain and raising food costs for consumers,” said David French, NRF’s senior vice president for government relations and executive director of...
Foodservice Update Q2 2022: Foodservice in Troubled Times - Impact of the War in Ukraine
This is a special edition focusing on the impact that the war in Ukraine may have on the foodservice industry in the immediate and the longer term. Food and energy prices were already rising before the war began, and this conflict has amplified the trend, making clear that high prices will not revert any time soon. Also, foreign brands operating in Russia are exposed to reputational risks, which might have consequences in long term strategies.
Report summaryThe consequences will differ, depending on the market and...
The Russia-Ukraine War’s Impact on Global Fertilizer Markets
Higher fertilizer prices and/or a shortage of fertilizer supply resulting from the war in Ukraine will not have an immediate impact on food prices and/or food production. Currently, the fertilizer market in the northern hemisphere is relatively quiet. All transoceanic flows for the upcoming northern hemisphere spring season have already taken place, and movements are now primarily at the local level: from the import ports and/or domestic production locations to farm fields.
The first crop-growing regions to be ‘at risk’ are India and Latin America...
North American Meat Institute to House Agriculture Committee: Asked and Answered
The North American Meat Institute (Meat Institute) today issued the following statement regarding House Agriculture Committee Chairman David Scott’s announcement of an upcoming hearing on the beef industry and food prices:
“The Meat Institute and its members have already made themselves available to Chairman Scott and all Members of Congress on several occasions to help improve the understanding of the beef markets,” said Julie Anna Potts, President and CEO of the Meat Institute. “This hearing will be no different. The questions have been asked and answered...”
Chicken Council Responds to Politicized Criticisms of Food Inflation
The most recent drumbeat from the White House National Economic Council (NEC) blaming the meat and poultry industry for their failed policies and rising meat prices came yesterday in a blog post. Let’s look at the facts according to the federal government’s own data.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in November on a seasonally adjusted basis after rising 0.9 percent in October, the U.S. Bureau of Labor Statistics reported on Friday. Over the last 12 months, the all items index increased 6.8 percent...
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